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I know all of us have been absolutely appalled at what we are seeing across the United States in many of our cities. As we have been digging deep as a nation to try and get a handle on the pandemic gripping the world, the vast underlying racism that permeates our society is a more enduring scourge we all face.

It’s hard for me to opine on the issue. As a white man of a certain age, I know I have benefitted from the too often unnoticed privilege that was laid before me, whether consciously or not. And, as the father of two young men, I certainly do worry about their future; but I have never had to worry on a daily basis that my sons might not be safe due to the color of their skin. That is a situation that no human should ever need to endure. I too often take for granted living here in Vermont which is its own little bubble of serenity – a bubble that often hides from view the systemic racism in our state and the U.S.

As risk management professionals grappling with the impacts of the COVID-19 virus among a number of other issues facing our organizations, let us be aware of the risk facing so many among us, day in and day out. Addressing it honestly and working for change is the only way forward for our nation.

I know last week I said summer has finally arrived here in Vermont after a tough spring with 80 degrees and sunny, well that’s nothing to the 90 degrees we had the past couple of days. And like I said that means it’s grilling season.

That reminds me that I am looking forward to my grilling of Vermont’s Commissioner of Financial Regulation, Mike Pieciak! Well, not that I am planning on a “grilling”, perhaps just a light “sautéing” instead. Mike is going to join me at the end of the first day of VCIA’s Virtual Conference to discuss.

Commissioner Pieciak will join me in a conversation with me on major issues impacting the captive insurance industry in Vermont, at the NAIC and beyond. We will hear Mike’s thoughts on transformative changes due to the COVID-19, the current regulatory environment, and other things I plan to spring on him.

Now Mike is a very smart guy and pretty unflappable, but I am going to do my best Mike Wallace on him (for all of you old enough to know the famed 60 Minutes reporter). More information to follow – I hope you can join us this August!

Summer has finally arrived here in Vermont after a tough spring. 80 degrees and sunny – it makes me yearn for a barbeque this weekend.

As we all take time to be with our loved ones as best we can this weekend, we must also think about the folks on the front lines dealing with the pandemic on a daily basis. Everyone from ER nurses and doctors (who went into their careers knowing these risks) to grocery store workers, hardware store clerks, social workers and public transportation workers (who have been thrust into unforeseen and at times impossible positions during this time). We owe each of them an enormous debt of gratitude. As I sit here safe at my kitchen table (now my executive suite), I recognize that I am privileged in this scenario, and that others are not.

If you haven’t done so already, reach out to those in your community who are on the front lines. They might not be able to spend this weekend with loved ones, friends, and family. A sincere thank you to a minimum wage store clerk may be extra appreciated at this time. And, of course, reach out to your own family and friends and stay connected. Human contact, no matter how much social distancing is required, is more important than ever. And being appreciative of others who are in harm’s way to keep us all safe, is paramount.

Have a peaceful Memorial Day weekend. Thank you and I look forward to hearing from you.

We are all working under trying circumstances these days as we work our way through this pandemic. But here is an example I think we can all agree goes above and beyond. This is an actual picture of Ed Koral, one of our intrepid panelists during yesterday’s VCIA webinar on Adapting your Captive Program to a Shifting Insurance Market. Talk about adapting!

Ed is a managing director with BDO’s Insurance Risk Advisory Group, a longtime VCIA member, former board member and recipient of VCIA’s vaunted Captive Crusader award in 2019. He is currently working from his home in New York City (COVID-19 ground zero) and has to share both physical and mental space with his wife and two children. Because of the noisy work going on outside his building he needed to use a closet as his studio for the webinar. As fellow presenter Andrew Baillie of AES said, it’s a little Harry Potteresque.

Thank you, Ed! And thank you Andrew, Steve Bauman of AXA XL, and Christine Brown from Vermont’s Department of Financial Regulation for a great presentation.

A key component in a captive program’s success is its ability to adapt to changing market conditions, economic turbulence, new & emerging risk and even the recent changes in the definition of employment. Even in the midst of this dangerous pandemic, underlying issues impacting the captive industry were emerging.

VCIA will be hosting a webinar next Thursday, May 14th, that will explore ways to shift captive strategy to respond to the business needs of your parent company and optimize your program in our changing market. Our presenters will demonstrate captive success with emerging risks, illustrate current challenges and keys to achieving a positive outcome, and explore what questions to ask to create a successful pathway to deal with such unforeseen events such as COVID-19.

Our speakers will be four leading thinkers in the captive industry: Andrew Baillie is the Program Director, Global Insurance for The AES Corporation, a global power producer and distributor, where he supports risk management oversight and the procurement of insurance, as well as managing the company’s large, Vermont-based Captive Insurance Company; Steven Bauman works for AXA XL serving as Head of Global Programs and Captive Practice in North America; Ed Koral is a managing director with BDO’s Insurance Risk Advisory group; and Christine Brown is Assistant Director with the Vermont Department of Financial Regulation – Captive Division, where she directly supports the Director of Captive Insurance and Deputy Commissioner of Captives with licensing, industry outreach and strategic planning.

Join us to learn how to remain agile during these challenging times. Go to www.vcia.comand register today.

As you all probably have heard by now, Vermont’s intrepid Ian Davis is leaving the Mother Ship and heading off to a new position within the captive family as Senior Vice President, Captive Insurance Relationship Manager at People’s United Bank. Ian will be responsible for business development, qualification, expansion and overall relationship management for the bank’s captive insurance portfolio.

Ian served as Director of Financial Services at the Vermont Department of Economic Development, leading the marketing and business development activities in support of the State’s captive insurance industry for three years. In that role he stepped into large shoes left by Dan Towle, who is the current president of CICA.

I am so glad for Ian in his new position and so, so glad he is staying in our world of captive insurance. Don’t get me wrong: he will be missed in his role with the State as he was the consummate professional, truly representing Vermont’s best in captive insurance. But very smart of People’s to recognize talent by putting Ian in a leadership role in their captive insurance arena.

As the State looks to fill Ian’s position, the estimable Tim Tierney will step in as interim director. Tim is Director of Recruitment and International Trade at Vermont’s Department of Economic Development. He already was helping us on our planned Mexico Trade Mission this September, and I am looking forward to continuing our work.

So goodbye… and welcome, Ian! I look forward to our continued partnership and, more importantly, our good friendship.

You may ask yourself (and others) just how is VCIA going to pull off a successful 100% virtual captive insurance conference this August. Well, we are still working out the details, but one BIG reason I feel confident it will be great is the support and brainpower we get from our colleagues at the State of Vermont’s Department of Economic Development (DED) and Department of Financial Regulation (DFR).

Often, when I go to captive insurance conferences, people talk to me as if I were a regulator from Vermont. Not surprising, many folks conflate our distinct organizations because we coordinate so well with each other. I will then explain that, no, I am not a State employee but staff the captive trade association. And even though we are separate organizations with our own missions, we absolutely work in tandem for the good of Vermont’s captive industry.

Now is one of those times I am truly proud of that essential teamwork. VCIA staff met yesterday via Zoom with Ian Davis from DED and the captive leadership from DFR: Dave Provost, Christine Brown, Dan Petterson, and Sandy Bigglestone, to discuss ideas on the best ways to make the VCIA Virtual Conference truly awesome. The State folks brought excellent ideas, innovative thinking, and, most importantly, terrific enthusiasm to the process. Their professionalism and broad perspectives underscored just how lucky we are to have their partnership.

So, keep an eye out for details. We plan to bring you a terrific conference – and could not have done it without Team Vermont!